They also like precious metals, particularly gold and silver, as loose monetary policy sends investors seeking something with more stable value. In fact, Morgan Stanley recently called the Federal Reserve’s latest action a game changer for the yellow metal.

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What follows are Morgan Stanley’s opinions and price targets for 14 major commodities.

Brent oil continues to be affected by geopolitical tensions

Middle East unrest and and easy central bank monetary policies continue to support oil prices, though softer fundamentals heading into 4Q12 should weaken year-end crude prices. Risks are skewed to the upside for 2013.

Source: Morgan Stanley

Natural gas supplies will tighten by the end of the year, eventually sending prices higher